Milestone inspections, SIRS reserves, special assessments, lending and insurance, explained for 2026 with Lee and Collier County numbers.
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By Jesse McGreevy and Marc Comisar, McGreevy and Comisar, Southwest Florida. Updated November 2026.
Yes, for the right building. Florida resale buyers now get 7 days, excluding weekends and legal holidays, to cancel after receiving the milestone summary and SIRS; SIRS reserves cannot be waived; and Fannie Mae now requires Full Review. In September 2026, Lee County condos had a $255,000 median (down 8.9 percent) and Naples-area condos $400,000 (down 2.4 percent).
Data updated: November 2026 (sources named, retrieved 4 November 2026).
A Florida condominium in 2026 is two purchases at once. You are buying a unit, and you are buying a share of a building's balance sheet: its roof, its concrete, its insurance policy, its reserve account and every repair the association has not yet paid for. Since the Champlain Towers South collapse in Surfside on June 24, 2021, the Florida Legislature has rewritten the rules for that second purchase four times, in 2022, 2023, 2024 and 2025. The result is a condo market that is more transparent than it has ever been, and more expensive to own in an older building.
We are Jesse McGreevy and Marc Comisar, and we sell condominiums across Lee and Collier County every week. This guide is the document set we wish every buyer read before writing an offer: the current statutes with their effective dates, the September 2026 market numbers with their publishers named, the 2026 Fannie Mae and Freddie Mac lending changes, and the insurance math. It is long because the questions are specific. Use the headings to jump to the part you need.
If you are comparing buildings in Naples, Fort Myers, Bonita Springs, Estero or Marco Island and want agents who read the structural integrity reserve study before you sign, start with our page on the best real estate agents in Naples, or call Jesse McGreevy directly at (239) 898-6072. McGreevy and Comisar carry the Top 1% Real Estate Agents Nationally Since 2008 distinction, and we will tell you plainly when a building does not pass our own checklist.
Florida condo pricing in 2026 turns on five rules. Each one changes what a unit costs to own, how fast it sells, or who can finance it. We price every offer against all five.
Florida passed four post-Surfside condominium laws: SB 4-D (ch. 2022-269), SB 154 (ch. 2023-203), HB 1021 (ch. 2024-244) and HB 913 (ch. 2025-175). The 2026 session enacted no substantive condominium law; HB 657 passed the House and died in the Senate. One scheduled change remains: milestone and SIRS dispute mediation starting July 1, 2027.
Data updated: November 2026 (sources named, retrieved 4 November 2026).
The table below is history, labelled as history. Each later law amended the earlier ones, so the current rule is always the last row that touched a topic. Everything elsewhere on this page states the rule in force on November 4, 2026, as printed in the 2026 Florida Statutes.
| Law | Chapter law | Signed / effective | What it changed for buyers (history) |
|---|---|---|---|
| SB 4-D (2022 special session D) | ch. 2022-269 | Approved and effective May 26, 2022 | Created milestone inspections (s. 553.899) at 30 years, or 25 within 3 miles of a coastline; created the SIRS with a December 31, 2024 deadline and a $10,000 "other item" threshold; banned waiving SIRS reserves from December 31, 2024; added milestone summary and SIRS to the resale disclosure list. |
| SB 154 (2023) | ch. 2023-203 | Approved and effective June 9, 2023, except mediation sections effective July 1, 2027 | Replaced the mandatory 3-mile coastal 25-year rule with a local option; limited both programs to residential condominiums; added extensions, a Phase 2 progress report within 180 days and a 45-day owner summary; added the conspicuous milestone/SIRS contract statement for contracts after December 31, 2024. |
| HB 1021 (2024) | ch. 2024-244 | Approved June 14, 2024; effective July 1, 2024, with parts October 1, 2024 and January 1, 2026 | Director education, quarterly board meetings, criminal penalties for kickbacks and records abuse, manager conflict rules, four-family exemption, annual financial statement and budget in the resale package, and the 25-unit website threshold starting January 1, 2026. |
| HB 913 (2025) | ch. 2025-175 | Approved June 23, 2025; effective July 1, 2025 except as otherwise provided | Moved the SIRS deadline to December 31, 2025; raised the threshold to $25,000 (CPI-adjusted); allowed loans, lines of credit, pooling and a baseline funding plan; allowed a two-budget pause after a milestone inspection; lengthened the resale cancellation window from 3 to 7 days; made local repair-timeline ordinances mandatory. |
| 2026 regular session (January 13 to March 13, 2026) | ch. 2026-14 (reviser's bill) only | SB 104 approved March 31, 2026; effective May 12, 2026 | No substantive condominium law. HB 657 passed the House 108-2 and died in Senate Rules on March 13, 2026. SB 1498, SB 722, SB 1744, HB 1541, HB 465/SB 822 and HB 255/SB 638 also died. |
| Scheduled | ch. 2023-203, s. 7 | Effective July 1, 2027 | Unit owners may use the mediation process for disputes over a board's failure to obtain a milestone inspection or SIRS, fund reserves, or perform maintenance those reports recommend (s. 718.1255, F.S.). |
Sources for the table: the Florida Senate bill pages for SB 4-D, SB 154, HB 1021, HB 913 and HB 657, and the session law ch. 2025-175 on the Florida Department of State site.
Florida's first post-Surfside condominium law, SB 4-D, passed the Senate 38-0 on May 24, 2022 and the House 110-0 the next day, and took effect when the Governor approved it on May 26, 2022. It created s. 553.899, F.S., the statewide milestone inspection program, and the structural integrity reserve study in s. 718.112(2)(g), F.S. History, superseded: the 2022 text required inspections at 25 years for buildings within 3 miles of a coastline and set the first SIRS deadline at December 31, 2024.
The part of SB 4-D that still drives fees today is the reserve waiver ban. Before 2022, owners could vote to fund reserves at less than the required amount, or not at all. SB 4-D ended that option for SIRS items for unit-owner-controlled associations, effective December 31, 2024.
SB 154, approved June 9, 2023, rewrote the milestone statute before most first inspections were due. It deleted the mandatory 25-year coastal rule and let each local enforcement agency choose 25 years where local conditions, including proximity to salt water, justify it (s. 553.899(3)(b), F.S.). It limited both programs to residential condominiums, allowed deadline extensions for good cause, and required the association to send owners the inspector's summary within 45 days.
For buyers, SB 154 also created the conspicuous contract statement about milestone, turnover and SIRS status for every contract signed after December 31, 2024, which is now in s. 718.503(2)(e), F.S.
HB 1021, approved June 14, 2024 and effective July 1, 2024 for most sections, aimed at boards and managers. Directors must now complete a 4-hour course and certify they have read the governing documents; residential associations of more than 10 units must meet at least quarterly; kickbacks became a third-degree felony; and managers must return official records within 20 business days of termination. Effective October 1, 2024, the resale package replaced generic "financial information" with the annual financial statement and annual budget. Effective January 1, 2026, the website duty dropped from 150 units to 25.
HB 913 is the law most Florida condo buyers feel today. Approved June 23, 2025 and effective July 1, 2025, it moved the SIRS deadline for existing owner-controlled associations from December 31, 2024 to December 31, 2025; raised the "other item" threshold from $10,000 to $25,000, indexed to inflation; let associations fund SIRS reserves with special assessments, loans or lines of credit approved by a majority of all voting interests; allowed pooled reserves and a baseline funding plan; and allowed a pause of up to two annual budgets after a milestone inspection for budgets adopted on or before December 31, 2028.
HB 913 also lengthened the resale buyer's review and cancellation window from 3 days to 7 days, excluding Saturdays, Sundays and legal holidays, and made local repair-timeline ordinances mandatory. The Florida House final bill analysis, dated June 26, 2025, confirms the one-year SIRS extension (House final analysis of CS/CS/HB 913).
No substantive condominium bill became law in 2026. The Florida Senate's bill search for 2026 bills citing Chapter 718 shows only two with chapter numbers: SB 104, the annual reviser's bill (ch. 2026-14, effective May 12, 2026), which corrects cross-references and deletes expired text, and HB 797 (ch. 2026-168, effective July 1, 2026), a rewrite of Florida's nonprofit corporation law with conforming edits. HB 657, the 2026 community association package, passed the House 108-2 on March 5, 2026 and died in Senate Rules on March 13, 2026. The Community Associations Institute's 2026 end-of-session report lists the other condo bills as dead (CAI Florida 2026 report).
Two 2026 items still matter to buyers. First, rulemaking: the SIRS form rule of DBPR's Division of Condominiums, Timeshares, and Mobile Homes,, 61B-22.005, F.A.C., shows a version effective October 4, 2026 and a proposed amendment published October 22, 2026, so ask whether the study on file uses the current state form (DBPR Form 6000-10). Second, insurance: SB 1028 (2026) requires Citizens to set up commercial clearinghouses by January 1, 2027, which can move commercial residential policies, the category condo master policies are written in, to private carriers. That is an insurance law, not a condominium law, and we cover it in the insurance section.
Before our clients write an offer, we check the history line at the bottom of each statute we rely on. For s. 718.112 it currently ends "s. 8, ch. 2025-175; s. 43, ch. 2026-14," which tells us the last substantive change was HB 913.
A milestone inspection is a structural inspection by a Florida-licensed architect or engineer, required under s. 553.899, F.S., for residential condominium buildings of three or more habitable stories by December 31 of the year the building turns 30, then every 10 years. Collier County, Naples and Marco Island use 25 years within three miles of salt water.
Data updated: November 2026 (sources named, retrieved 4 November 2026).
A milestone inspection is not a code compliance review. The statute says its purpose is to attest to the life safety and adequacy of the structural components, and to determine the building's general structural condition as it affects safety, including any maintenance, repair or replacement it needs (s. 553.899, F.S.). It is a separate document from the SIRS, which is a reserve budget study. Buyers in older Gulf-front buildings will usually see both.
Section 553.899(3)(a), F.S., applies to buildings three habitable stories or more in height, as determined by the Florida Building Code, that are subject in whole or in part to the condominium or cooperative form of ownership as a residential condominium or cooperative. Age runs from the date the certificate of occupancy (CO) was issued. The section does not apply to single-family, two-family, three-family or four-family dwellings with three or fewer habitable stories above ground. Bathrooms, closets, halls, storage and similar spaces are not habitable space under the Florida Building Code definition that Collier County quotes, so a three-story building over ground-level parking may fall outside the rule.
The statewide trigger is 30 years. Under s. 553.899(3)(b), the local enforcement agency may decide that local circumstances, including environmental conditions such as proximity to salt water as defined in s. 379.101, require the first inspection at 25 years. That is a local choice, not a state rule. History, superseded: the 2022 law required 25 years within 3 miles of a coastline statewide; SB 154 deleted that in 2023.
Illustrative timing under the 30-year rule: a building with a 1996 CO reaches 30 in 2026, so its first inspection is due by December 31, 2026; a 1997 CO means December 31, 2027. Under a 25-year local rule, a 2001 CO means December 31, 2026. Buildings that reached 30 before July 1, 2022 had to be inspected before December 31, 2024, and buildings reaching 30 between July 1, 2022 and December 31, 2024 before December 31, 2025.
Phase 1 is a visual examination of habitable and nonhabitable areas, including the major structural components, by a licensed architect or engineer. If Phase 1 finds no signs of substantial structural deterioration, the inspection ends there. If it does, Phase 2 follows, which "may involve destructive or nondestructive testing at the inspector's direction" (s. 553.899(7), F.S.). Cracks, peeling finishes and signs of leakage are not automatically substantial structural deterioration; the inspector decides.
The clock, step by step, under s. 553.899, F.S.:
HB 913 added a bidding rule buyers should know. An architect or engineer bidding to perform the inspection must disclose in writing any intent to bid on the repairs, and a contractor or design professional bidding on recommended repairs cannot have an undisclosed interest in the inspecting firm (s. 553.899(12), F.S.). A contract that skipped the disclosure is voidable by the association.
| Jurisdiction | Trigger used | What is published |
|---|---|---|
| Collier County (unincorporated) | 25 years within 3 miles of salt water; 30 years beyond | Milestone Inspections page with CO-date tables, a saltwater boundary map, a public Milestone Map dashboard, a buildings-by-year list, portal status codes, and fees: $50 per report through 12/31/2025, $500 per report on or after 1/1/2026, $150 extension fee |
| City of Naples | 25 years within 3 miles of the coastline; 30 years beyond | Milestone pages, an initial $300 milestone fee paid on the public portal, and "Milestone Buildings" lists by year from 2024 through 2033 |
| City of Marco Island | 25 years within 3 miles of salt water; 30 years beyond | Milestone information page; reports are stored as permit records searchable under permit type "Milestone Phase 1" on the city's permitting portal |
| City of Cape Coral | 30 years | Condominium Inspections FAQ stating city buildings are not within three miles of the coastline and follow the 30-year requirement |
| Lee County (unincorporated), City of Fort Myers, City of Bonita Springs | Not published on their sites as of November 2026 | Not published on their sites as of November 2026; ask the building department |
Sources: Collier County Milestone Inspections, City of Naples Milestone Inspections, City of Naples milestone process, City of Marco Island and City of Cape Coral. The Naples and Marco Island pages still contain 2024 deadline language in places, so confirm current fees and process with each building division.
Collier's portal status codes tell a buyer where a building stands: "Open (Open for Uploads)" (not yet due), "MI Phase 1" (letter sent, report pending), "MI Phase 2" (Phase 1 said Phase 2 is required), "MI Phase Permit" (Phase 2 said repairs are needed) and "Milestone Completed" (completion letter with the next due date). In Collier, a repair permit must be applied for within 150 days of a Phase 2 report calling for repairs, and the engineer's letter on whether the building may stay occupied during repairs is valid for no more than 180 days.
Cape Coral's blanket 30-year statement is the city's own; if you are buying in a canal-front or river-front Cape Coral building, ask the Building Division to confirm, because the statute's local option speaks of proximity to salt water.
The best statewide data is OPPAGA Report 26-04, published by the Florida Legislature's research office in July 2026 (OPPAGA Report 26-04). For 2024 and 2025 combined, building officials reported:
Read every one of those totals as a floor. DBPR received 2024 data from only 71 percent of Florida's 389 local jurisdictions and 2025 data from only 64 percent, and OPPAGA notes some forms included non-condominium buildings. The report's county charts are images, so Lee and Collier County counts are not available in text form. As a rough statewide indicator only, 1,575 Phase 2 inspections against 8,736 Phase 1 inspections is about 18 per 100, but some counties accept a combined Phase 1 and Phase 2 report, so that ratio is not a probability for any single building.
One local count exists. The Gulf Shore Association of Condominiums in Naples reported on April 23, 2025 that 245 buildings in the City of Naples were subject to milestone inspection and 206 (83 percent) had submitted reports by April 21, 2025 (GSAC, secondary).
Before our clients write an offer on a Naples or Fort Myers condo, we pull the building's milestone status ourselves. On a Collier building we search the county portal and the Milestone Map; on a Marco Island building we search the permit portal for "Milestone Phase 1"; on a Lee County building we ask the association for the building department's notice or completion letter, because Lee County, Fort Myers and Bonita Springs do not publish lists. Then we ask for:
A structural integrity reserve study (SIRS) is a visual-inspection-based reserve budget required under s. 718.112(2)(g), F.S., at least every 10 years for each residential condominium building of three or more habitable stories. It sets what owners must save for the roof, structure and other key systems, and boards can no longer vote those reserves away.
Data updated: November 2026 (sources named, retrieved 4 November 2026).
The SIRS is the single document that most often explains why a Florida condo's monthly fee jumped. Each line lists a component, its estimated remaining useful life, its estimated replacement cost or deferred maintenance cost, and a funding plan that reaches that cost by the end of the component's life (s. 718.112(2)(g)4., F.S.). Divide those numbers by the years remaining and by the unit count, and you have most of the reserve line in the budget. DBPR describes it plainly: a milestone inspection is a structural inspection; a SIRS is a visual-based budget planning tool (DBPR condominium FAQ).
Under s. 718.112(2)(g)1., F.S. (2026 statute text), a SIRS must study, as they relate to structural integrity and safety:
The Division's posted 2026 threshold is $25,675 (DBPR reserve threshold). History: the threshold was $10,000 under the 2022 and 2023 laws. Items with a remaining useful life of more than 25 years do not need replacement reserves.
Elevators, HVAC, pool equipment, seawalls, pavement, drainage and irrigation are not on the SIRS list, but roof replacement, building painting and pavement resurfacing must be reserved under the general budget rule regardless of cost, and other items over the threshold must be reserved too (s. 718.112(2)(f)2.a., F.S.). Expect two sets of reserve lines in a budget: SIRS lines and non-SIRS lines.
A SIRS must be performed or verified by a Florida-licensed engineer or architect, or by a reserve specialist or professional reserve analyst certified by the Community Associations Institute or the Association of Professional Reserve Analysts. The same bidder-disclosure rule that applies to milestone inspectors applies to SIRS preparers.
Current law, s. 718.112(2)(g)7., F.S.: associations existing on or before July 1, 2022 and controlled by unit owners other than the developer had to complete a SIRS by December 31, 2025. An association required to complete a milestone inspection on or before December 31, 2026 may complete the SIRS together with it, but "in no event" may a SIRS be completed after December 31, 2026. History: the original deadline was December 31, 2024; HB 913 moved it one year.
Two timing rules can legitimately delay a study. A milestone inspection done within the past 5 years can replace the SIRS visual inspection (s. 718.112(2)(g)8.), and an association that completes a milestone inspection may delay a required SIRS for no more than the 2 consecutive budget years after it to focus money on the repairs (s. 718.112(2)(g)9.). Outside those, as of November 4, 2026, a three-story-plus building owned before July 1, 2022 with no SIRS has missed its deadline, and the seller's contract must say so in conspicuous type.
Within 45 days of receiving the study, the association must give each owner a copy or a notice that it is available, and file a statement with the Division. The SIRS is an official record kept for at least 15 years.
For budgets adopted on or after December 31, 2024, a unit-owner-controlled association that must have a SIRS may not vote to provide no reserves or less reserves than required for the SIRS items, and may not vote to use those reserve funds for any other purpose (s. 718.112(2)(f)2.b. and 3., F.S.). Owners can still vote to waive or reduce reserves for non-SIRS items by a majority of the total voting interests, and the proxy for that vote must carry a capitalized warning that waiving reserves may result in unanticipated special assessments.
One more rule matters for buyers comparing budgets year over year. If a proposed budget requires assessments above 115 percent of the prior year's, the board must also offer a substitute budget without discretionary spending. That test excludes required reserves, non-annual SIRS repair expenses and insurance premiums (s. 718.112(2)(e), F.S.), so a SIRS-driven jump in dues does not trigger the owner substitute-budget vote.
Secondary sources disagree on when SIRS-based funding "starts." DBPR's FAQ says reserve funding under the SIRS begins January 1, 2026 for budgets adopted before December 31, 2024, while some vendors cite other dates. The statute keys the ban to the date a budget is adopted, December 31, 2024 or later, and the catch-up has been landing in 2025 and 2026 budgets.
HB 913 did not water down the duty to fund SIRS items. It widened the ways to pay:
Baseline is the legal minimum, not "fully funded." Association Reserves, a reserve study firm, called full funding a "safe and conservative goal" and baseline funding "a risky goal" in a September 17, 2025 webinar, because the reserve can drop close to zero before a major project. Lenders now draw the same line: for conventional loan applications dated on or after August 3, 2026, Fannie Mae will not accept a reserve study using the baseline method to satisfy its reserve test (see the lending section).
DBPR's Division of Condominiums, Timeshares, and Mobile Homes reported that as of November 30, 2025, 7,836 condominium associations had reported completing a SIRS and 16,104 had created the online account every association had to open by October 1, 2025 (DBPR report, December 1, 2025). Do not divide one number by the other: the 16,104 accounts include associations with no building of three habitable stories, which need no SIRS, and no primary source publishes how many associations were required to file. Earlier, according to a Florida Politics article reprinted on May 15, 2026, DBPR's Secretary told House members in February 2025 that 4,096 of more than 11,270 associations subject to the requirement, about 36 percent, had self-reported compliance (secondary). A newer count was not found.
DBPR publishes a searchable SIRS database in two lists, studies submitted before July 2025 and July 2025 and after (DBPR SIRS reporting). A listing proves the association reported a completed study. It does not prove the study is good or that the budget follows it; the Division's review is procedural only.
The table below is illustrative, not a real association. It models a 60-unit, five-story building with a $400,000 SIRS reserve balance, a current SIRS reserve payment of $48,000 a year, and six SIRS items totaling $5,310,000: roof $900,000 due in 8 years, waterproofing and painting $600,000 in 5 years, windows and doors $1,800,000 in 12 years, plumbing $1,200,000 in 10 years, electrical $450,000 in 15 years and fire protection $360,000 in 7 years. Each item is replaced once in a 15-year window, with no inflation and no interest, so real costs would be higher.
| Funding plan (illustrative) | Annual SIRS contribution | Arithmetic per unit per month (60 equal units) | Per unit per month |
|---|---|---|---|
| Current budget before catch-up | $48,000 | $48,000 ÷ 12 ÷ 60 | $66.67 |
| Baseline plan (pooled, lowest level contribution that keeps the balance at or above zero; balance reaches exactly $0 in year 12 after the window project) | about $371,667 | $371,667 ÷ 12 ÷ 60 | about $516.20 |
| Straight-line plan ($400,000 balance allocated by cost, each item's remainder funded evenly over its own life) | about $539,941 | $539,941 ÷ 12 ÷ 60 | about $749.92 |
In this illustration, the baseline plan raises the reserve line by about $449.54 per unit per month and the straight-line plan by about $683. A unit with a 1.5 percent ownership share would pay about $464.58 a month under the baseline plan ($30,972 × 0.015) and about $674.93 under straight-line ($44,995 × 0.015). Because required reserves are excluded from the 115 percent test, a board can adopt either without the substitute-budget vote. That is the sticker shock pattern we expect in a building that previously waived reserves.
When we review a SIRS for a client, we read the line items, not the summary page. A short remaining life on a large cost, like the $600,000 waterproofing due in 5 years in the example, is where the next special assessment usually comes from. If you want that read done on a specific building, McGreevy and Comisar, Top 1% Real Estate Agents Nationally Since 2008, will walk you through the study before you sign.
Send us the building name and we will read the milestone summary, the SIRS, the reserve schedule and the last two budgets before you write an offer, and tell you what the numbers mean for price. Call Jesse McGreevy at (239) 898-6072. If you already own a Florida condo and want to know what an assessment does to your sale, request a current valuation of your condo. We are a top-reviewed Southwest Florida team, recognized with the Gulfshore Life Five Star award for 21 consecutive years.
A Florida condo special assessment is any charge outside the annual budget, levied by the association for a stated purpose. Owners pay it by their declaration share. Between contract and closing, the Condominium Rider allocates it; after closing, s. 718.116, F.S., makes the buyer jointly liable for anything the seller left unpaid.
Data updated: November 2026 (sources named, retrieved 4 November 2026).
Chapter 718 defines a special assessment as "any assessment levied against a unit owner other than the assessment required by a budget adopted annually" (s. 718.103, F.S.). The association must give each owner written notice of the specific purpose, and the money may be used only for that purpose; any surplus after the work is done becomes common surplus that the board may return or credit (s. 718.116(10), F.S.). Shares follow the declaration's common-expense percentages, which is why two units in the same building can owe very different amounts.
For routine special assessments, the board acts at a meeting with special notice. Written notice of a board meeting at which a nonemergency special assessment will be considered must be mailed, delivered or electronically sent to owners and posted on the property at least 14 days before the meeting, must say that assessments will be considered, and must state the estimated cost and purposes (s. 718.112(2)(c), F.S.). That 14-day notice and the agenda that follows are the earliest public trace of a coming assessment.
For SIRS funding the bar is higher. A special assessment, line of credit or loan used to fund SIRS reserves needs approval by a majority of the total voting interests of the association (s. 718.112(2)(f)2.c., F.S.). In practice that means the board needs more than half of all units, not just those who show up.
Florida statute does not decide who pays between buyer and seller; the contract does. In Lee and Collier, most resales use the Florida Realtors/Florida Bar contract with the Condominium Rider. The current rider is CR-7, released for July 1, 2025 to match the 7-day change (Florida Realtors, June 30, 2025).
What the CR-7 rider's special assessment paragraph, 3(c), says by default: an assessment already levied on the effective date, or levied between the effective date and closing, is paid in full by the seller at or before closing unless the buyer box is checked. If the association lets a buyer assume installments, the seller pays the installments due by closing and the buyer, by default, pays those due after; if it does not, the seller pays the whole assessment. The seller must also list any assessment levied, or discussed at a board meeting, in the 12 months before the effective date (Florida Realtors CR-7 redline, June 2025). Read the rider you are signing, and ask a Florida real estate attorney if a box is unclear.
Two statutes sit behind the contract. Under s. 718.116(1)(a), F.S., a new owner is "jointly and severally liable with the previous owner for all unpaid assessments that came due up to the time of transfer of title," with the right to recover from the seller. And Johnson v. Davis, 480 So. 2d 625 (Fla. 1985), holds that a seller who knows of facts materially affecting value that are not readily observable must disclose them (Johnson v. Davis).
The estoppel certificate is the association's sworn statement of what is owed on the unit, and title companies will not close without one. Under s. 718.116(8), F.S., it must itemize all assessments, special assessments and other moneys owed on the date of issuance, plus an itemized list of additional assessments and special assessments scheduled to become due during the certificate's effective period. It also states any capital contribution, resale or transfer fee, open rule violations, whether board approval of the sale is required and given, whether a right of first refusal exists, other associations the unit belongs to, and contact information for the association's insurers. The association waives any amount above the certificate against a person who relies on it in good faith.
Usually not. Section 627.714(1), F.S., requires every unit owner policy issued or renewed on or after July 1, 2010 to include at least $2,000 of loss assessment coverage for assessments made as a result of the same direct loss to collectively owned property, if the loss is of a type the policy covers, with a deductible of no more than $250 (s. 627.714, F.S.). That coverage responds to your share of a covered loss, such as the master policy's hurricane deductible. It does not pay an assessment to fund SIRS reserves, milestone repairs or deferred maintenance, because no covered direct loss occurred. The limit in effect one day before the loss is the one that applies, so raising it after a storm is named does nothing for that storm.
The table below shows illustrative numbers, with the arithmetic, for a $1,000,000 concrete restoration assessment, a $2,500,000 assessment, and the same $1,000,000 financed by an association loan instead.
| Unit's declaration share (illustrative) | Share of a $1,000,000 assessment | Share of a $2,500,000 assessment | Share of a $1,000,000 loan at 7.0% over 10 years (about $11,611 a month) |
|---|---|---|---|
| 1.0% | $10,000 ($1,000,000 × 0.01) | $25,000 | about $116 a month |
| 1.667% (1 of 60 equal units) | $16,670 ($1,000,000 × 0.01667) | $41,675 | about $193.55 a month, about $6,556 of interest over 10 years |
| 2.0% | $20,000 ($1,000,000 × 0.02) | $50,000 | about $232 a month |
In the loan column, the payment is the standard amortization of $1,000,000 at 7.0 percent for 120 months, about $11,611, multiplied by the unit's share. A loan spreads the cost but adds interest, and the SIRS must be updated to reflect the new funding method (s. 718.112(2)(g)4.c., F.S.). Against any of these numbers, the $2,000 statutory loss assessment minimum is small, and it would not apply to a repair assessment anyway.
Before our clients sign, we read 12 to 24 months of board minutes for the words "special assessment," "loan," "line of credit," "milestone" and "Phase 2." A minute entry is often the first time an assessment appears in writing, months before it is levied.
Maybe, and it depends on the building, not your credit. Fannie Mae and Freddie Mac test the whole project for critical repairs, failed inspections, reserves, insurance, litigation and delinquencies. Since August 3, 2026 every conventional condo loan needs Full Review, and from January 4, 2027 the reserve minimum rises to 15 percent of budgeted assessment income.
Data updated: November 2026 (sources named, retrieved 4 November 2026).
"Warrantable" is industry shorthand for a project that meets Fannie Mae or Freddie Mac standards so the loan can be sold to them. Fannie Mae's own FAQ is explicit that the test is at the project level and applies to every unit loan in the project, even for a strong borrower (Fannie Mae Project Standards FAQs). Fannie Mae reports that as of August 2025, 3.6 percent of projects carried an ineligible status, with insufficient master insurance and critical repairs the top two reasons (Fannie Mae Condo Status Finder).
Fannie Mae Selling Guide B4-2.1-03, dated November 4, 2026, makes a project ineligible when it needs critical repairs (Fannie Mae B4-2.1-03). Critical repairs include:
The same section makes a project ineligible while an evacuation order is in effect, when a special assessment is tied to an unremediated critical repair, when the association or developer is party to litigation over safety, structural soundness or habitability (with exceptions for minor matters), when commercial space exceeds 35 percent of floor area, or when the project operates like a hotel or condotel. The lender must obtain and review any structural or mechanical inspection completed within 3 years of its review. If the association will not provide it, Fannie Mae's FAQ says the loans are not eligible. Under Full Review, no more than 15 percent of units may be 60 or more days delinquent on regular dues, tested separately for each special assessment (Fannie Mae B4-2.2-01).
Illustrative example from Fannie Mae's rule: a 40-unit building with a $600,000 unfunded repair due within 12 months owes $15,000 per unit ($600,000 ÷ 40), over the $10,000 line, so the project is ineligible. A special assessment that fully funds the repair meets the unfunded test, but Fannie Mae's FAQ says safety-related repairs must be fully completed before the project is eligible.
Fannie Mae Lender Letter LL-2026-03, dated March 18, 2026, and its Freddie Mac mirror, Bulletin 2026-C, rewrote the condo rules (Fannie Mae LL-2026-03; Freddie Mac Bulletin 2026-C). In effective-date order:
The same letter retired the Florida-specific Project Eligibility Review Service requirement for new attached projects, retired the 50 percent investor concentration limit, expanded the review waiver to projects of 10 or fewer units (5 to 10 unit projects cannot be in a master association), and set the HO-6 deductible maximum at the greater of 5 percent or $2,500.
Illustrative reserve test: a 100-unit building with $1,000,000 of annual budgeted assessment income needs $100,000 in reserves under the 10 percent test and $150,000 under the 15 percent test. If it budgets $120,000, a loan application dated December 20, 2026 passes and one dated January 10, 2027 does not, unless an independent reserve study within 3 years supports the budget and the budget includes the study's highest recommended allocation.
FHA loans need a project on HUD's approved list or a lender-approved Single-Unit Approval (SUA), created by HUD's 2019 rule (HUD FHA condominiums; HUD approved condo lookup). Under HUD Handbook 4000.1, Update 18, issued August 12, 2026, an SUA requires a project of at least 5 units, a certificate of occupancy at least 1 year old or occupied units, FHA-insured units at no more than 10 percent of a project with 20 or more units (or at most 2 FHA loans under 20 units), owner occupancy of at least 50 percent, a 10 percent reserve and no more than 15 percent of units in arrears (HUD Handbook 4000.1 Update 18). Illustrative: in a 24-unit building, 10 percent is 2.4 units, so effectively 2 FHA loans at a time, and 12 units must be owner-occupied.
VA loans need the project on the VA Condo Report; the lender searches it and can submit a package if the project is missing (VA condo approvals quick reference). According to VA Loan Network (published April 13, 2026, modified September 26, 2026), VA has no single-unit approval; it approves the whole project (secondary). In seasonal Southwest Florida buildings with many second homes and rentals, the 50 percent owner-occupancy test for an FHA SUA is the one that most often fails.
A non-warrantable building can still be financed by a bank or credit union that keeps the loan, or by a non-QM lender, at a higher cost. These figures are lender marketing, not official rates. AmeriSave (2026) describes non-warrantable purchases at 20 to 25 percent down with rates 0.5 to 1.5 points higher; Tayton Capital (2026) describes 20 to 30 percent down and rates 0.75 to 1.5 percent higher; X2 Mortgage (2026) describes 10 to 25 percent down and credit scores of 680 or higher; CTC Mortgage (2026) describes 20 to 25 percent down. Illustrative arithmetic: on a $300,000 purchase, 10 percent down is $30,000 and 25 percent down is $75,000, a $45,000 difference in cash needed.
Non-warrantable is not always permanent. Fannie Mae's FAQ describes how a lender submits documentation to remove an "Unavailable" status once the condition is fixed, and Fannie Mae reports more than 2,000 projects updated since 2022 after documentation was provided. The Miami Herald, via the Tampa Bay Times on April 12, 2025, reported 1,438 Florida buildings on Fannie Mae's unavailable list as of March 2025 (secondary); no Lee or Collier count has been published.
Cash dominates the Southwest Florida condo market. In September 2026, 210 of 343 Lee County condo and townhouse sales, about 61 percent, were paid in cash, according to Florida Realtors' Lee County Monthly Market Detail; statewide, 3,765 of 7,179 condo sales, about 52 percent, were cash. Florida Realtors' 2026 international profile reports that 61 percent of international buyers paid all cash. No source we found proves why the cash share is high, so treat any link to warrantability as a hypothesis.
The mechanism is still clear. A building that a lender will not finance can sell only to cash buyers and to buyers willing to pay for portfolio or non-QM financing. A smaller buyer pool usually means a longer marketing period and a price discount compared with similar financeable buildings. No public dataset measures that discount in Lee or Collier, so we price it building by building from closed sales.
| Loan type | Building approval needed | Key 2026 rules | What to ask |
|---|---|---|---|
| Conventional (Fannie Mae) | Full Review by the lender, or the waiver for projects of 10 or fewer units; project not "Unavailable" in Condo Project Manager | Full Review mandatory from August 3, 2026; no baseline-funded reserve study; $50,000 per-unit master deductible cap from July 1, 2026; 15% reserves from January 4, 2027 | Has the lender reviewed this project in the last few months? Any inspection in the last 3 years? Reserve percentage? |
| Conventional (Freddie Mac) | Project review; not "Not Eligible" in Condo Project Advisor | Bulletin 2026-C mirrors Fannie Mae: Streamlined Review retired August 3, 2026; 15% reserves January 4, 2027 | Same questions; a building can pass at one agency and fail at the other |
| FHA | HUD-approved project, or Single-Unit Approval | SUA: 5+ units, 50% owner occupancy, FHA concentration limits, 10% reserves, 15% arrears cap | Is the project on HUD's list? If not, will the lender do an SUA? |
| VA | Project on the VA Condo Report | Whole-project approval; no single-unit route | Is the project listed? Is it HUD-approved, which can speed VA listing? |
| Portfolio or non-QM | Lender's own review | Lenders describe 10 to 30 percent down and rates about 0.5 to 1.5 points higher (secondary) | Rate, down payment, adjustable terms, prepayment penalty |
| Cash | None for the purchase | Your future buyer may need a loan, so warrantability still affects resale | Would this building pass Full Review today? |
Before our clients write an offer, we ask the lender the building question first. If the project will not pass Full Review, it is better to know before the inspection period than after it. McGreevy and Comisar have held the Top 1% Real Estate Agents Nationally Since 2008 distinction by keeping deals from falling apart at underwriting, and this is the step that does it.
Florida's Office of Insurance Regulation reports average condo unit owner (HO-6) premiums including wind of $1,494 in Lee County and $2,271 in Collier County, with data as of March 31, 2026. Your share of the association's master policy is a separate cost, paid through monthly dues, and is often the larger number.
Data updated: November 2026 (sources named, retrieved 4 November 2026).
The figures come from OIR's Property Insurance Stability Report dated July 1, 2026, which divides total premium by policies in force for each county. They are averages, not quotes, and they blend building age, coverage amounts, deductibles and carriers (Florida OIR, July 1, 2026).
| County | Homeowners average, including wind | Homeowners average, excluding wind | Condo unit owners (HO-6), including wind | Condo unit owners (HO-6), excluding wind |
|---|---|---|---|---|
| Lee | $3,576 | $2,119 | $1,494 | $1,061 |
| Collier | $5,534 | $3,169 | $2,271 | $1,566 |
| Charlotte | $3,160 | $1,661 | $1,394 | $933 |
| Sarasota | $3,457 | $1,482 | $1,759 | $1,052 |
| Palm Beach | $6,323 | $3,175 | $2,311 | $1,703 |
| Miami-Dade | $5,975 | $3,779 | $2,801 | $1,764 |
Two readings matter. The Lee HO-6 average is about 42 percent of the Lee homeowners average ($1,494 ÷ $3,576), and Collier's is about 41 percent ($2,271 ÷ $5,534). And HO-6 pricing in Lee was flat between OIR's January 2026 report ($1,493, data as of September 30, 2025) and the July 2026 report ($1,494). The master policy is where the cost shock landed: the South Florida Sun Sentinel reported on September 14, 2024, using OIR market data, that the average Florida condo association policy rose 103 percent in two years, from $72,570 to $147,381 (secondary, statewide).
Insurance and reserves together explain Southwest Florida fees. Gulfshore Business reported on January 27, 2026 a median HOA fee of $711 a month in the Naples-Marco Island metro and $475 in Cape Coral-Fort Myers, against a national median of $135 in 2025 (secondary; all HOA types, not condos only). For what a Naples fee typically includes, see our guide to Naples condo fees and what is typically included.
Every Florida condominium association must carry "adequate property insurance," and the replacement cost must be determined by an independent appraisal or an update at least once every 3 years (s. 718.111(11)(a), F.S.). The master policy covers the condominium property as originally installed, or replaced with like kind and quality, plus association-approved alterations (s. 718.111(11)(f)).
The statute then draws the line. The association's policy must exclude personal property in the unit and floor, wall and ceiling coverings, electrical fixtures, appliances, water heaters, water filters, built-in cabinets and countertops, and window treatments serving only that unit; "such property and any insurance thereupon is the responsibility of the unit owner" (s. 718.111(11)(f)3., F.S.; s. 718.111, F.S.). Upgrades that benefit only your unit are also yours (s. 718.111(11)(n)). After a covered loss, the association's contractor may rebuild and then bill you, as an assessment, for the items you were supposed to insure (s. 718.111(11)(g)2.). Set HO-6 Coverage A high enough to pay that bill.
No Florida statute requires an owner to carry HO-6 coverage. Declarations and lenders do: under LL-2026-03, a unit owner policy is required when the master policy excludes the interior or has a per-unit deductible.
The board sets the master policy deductible at a board meeting, and it must be consistent with industry standards for similar communities (s. 718.111(11)(c), F.S.). Deductibles and damage above the coverage are common expenses shared by all owners, except where an owner's negligence or rule violation caused the damage, unless the association has recorded an opt-out by a majority of the total voting interests (s. 718.111(11)(j) to (m)). Ask the closing agent to check the official records for a recorded opt-out.
For the association's commercial residential policy, the insurer must offer both an annual aggregate hurricane deductible and a per-hurricane deductible (s. 627.701(5)(b), F.S.). A per-hurricane deductible can hit twice in one season. For personal lines policies such as an HO-6, the insurer must offer hurricane deductibles of $500, 2 percent, 5 percent and 10 percent of the dwelling limit, and the hurricane deductible applies once per calendar year (s. 627.701(3) and (5)(a)).
Illustrative, not a quote: a building insured for $30,000,000 with a 5 percent named-storm deductible carries a $1,500,000 deductible. In a 100-unit building with equal shares, that is $15,000 per unit before reserves. If reserves cover $500,000, the remaining $1,000,000 is assessed at about $10,000 per unit. An HO-6 with the $2,000 statutory minimum loss assessment pays $2,000 of that; a $25,000 limit pays all of it. Always ask for the master deductible both in dollars and as a percentage.
Standard HO-6 policies and Citizens condominium policies do not cover flood. Flood insurance for the association is optional under the condominium statute (s. 718.111(11)(e), F.S.). Where an association buys an NFIP Residential Condominium Building Association Policy, FEMA's May 2024 summary describes a building limit of $250,000 multiplied by the number of units, a coinsurance penalty if the building is not insured to 80 percent of replacement cost, Increased Cost of Compliance coverage up to $30,000, and no coverage for unit owners' personal property (FEMA NFIP condominium summary). The association policy does not pay loss assessments to owners, and a standard HO-6 excludes flood. The owner's own NFIP Dwelling Form flood policy does carry condominium loss assessment coverage, up to its Coverage A limit, for an assessment caused by direct physical loss by flood to an NFIP-insured condominium building, but it will not pay an assessment that results from the association's own deductible (44 CFR Part 61, Appendix A(1)). The owner's flood policy is also the protection for contents and improvements.
Florida also requires a seller flood disclosure for residential sales at or before contract (s. 689.302, F.S.), and the Florida Realtors/Florida Bar "AS IS" contract lets a buyer terminate within a stated period if the property is in a Special Flood Hazard Area and flood insurance is unavailable or the lowest floor is below the required elevation.
Citizens Property Insurance Corporation requires a milestone inspection report with new-business submissions, and policy changes that add a building, for condominium and cooperative association buildings of three or more stories, more than three units and at least 30 years old, effective January 1, 2025, if a current building safety inspection report is not already on file (Citizens bulletin, November 18, 2024).
Citizens prices are moving in opposite directions for owners and associations. For policies effective on or after July 1, 2026, Citizens' primary HO-6 policies were capped at a 2 percent decrease, while condominium association multiperil policies rose an average of 7.7 percent and wind-only association policies 14.1 percent (Citizens, April 30, 2026). Citizens removed its flood requirement for condo unit owner policies in June 2023. Citizens' current HO-6 coverage worksheet (edition 08/26) lists loss assessment at $2,000 and says it cannot be increased; the $3,000 option appears only on 2023 and January 2024 comparison worksheets (Citizens HO-6 worksheet). SB 1028 (2026) requires Citizens to open commercial clearinghouses by January 1, 2027 to move commercial applicants to private carriers (Florida Senate summary of SB 1028).
Before our clients close, we get these in writing, not by phone:
Ask your insurance agent to quote from these documents; do not rely on an average.
Under s. 718.503(2), F.S., a Florida condo seller must give a buyer under contract, at the seller's expense, eight documents: the declaration, articles, bylaws and rules, annual financial statement and budget, milestone inspection summary, most recent SIRS or a statement that none exists, any post-2023 turnover inspection report, and the FAQ sheet, plus the state governance form.
Data updated: November 2026 (sources named, retrieved 4 November 2026).
These rights belong to the buyer of a resale unit from a non-developer owner. A buyer from a developer gets a 15-day window instead of 7 (s. 718.503(1), F.S.). The statute also protects your agent: a licensee who provides or obtains the documents is not liable for errors in them (s. 718.503(2)(c)), which is one more reason to read them yourself.
Each prospective purchaser who has entered into a contract is entitled to a current copy of the following (s. 718.503, F.S., 2026 Florida Statutes):
The seller must also provide DBPR's governance form, which covers the board's role, meeting notice, records access, assessments and voting (DBPR Condominium Governance Form).
What is not on the list: board minutes, the association's insurance declarations, litigation details and special assessment resolutions. The CR-7 Condominium Rider lets a buyer request, at the seller's expense, 12 months of board and member meeting minutes and agendas and the association's insurance declaration pages, and gives the buyer 7 days, excluding Saturdays, Sundays and legal holidays, after receiving them to cancel. We check those boxes on every condo offer we write.
Every resale contract must contain, in conspicuous type, either an acknowledgment that the buyer received the documents more than 7 days, excluding Saturdays, Sundays and legal holidays, before signing, or a clause making the contract voidable by the buyer by written notice within 7 days, excluding Saturdays, Sundays and legal holidays, after signing and receiving the documents (s. 718.503(2)(d), F.S.). The statutory clause says: "ANY PURPORTED WAIVER OF THESE VOIDABILITY RIGHTS SHALL BE OF NO EFFECT." The buyer may extend closing by up to 7 such days after receipt if requested in writing, and the right to cancel ends at closing. A contract missing the required clause is voidable by the buyer before closing.
For contracts entered into after December 31, 2024, the contract must also state, in conspicuous type, whether the association is required to have a milestone inspection, turnover inspection report or SIRS and has not completed it, is not required to have one, or has completed it, in which case the same 7-day acknowledgment or cancellation clause applies to receipt of the milestone summary, turnover report and SIRS (s. 718.503(2)(e)). If the seller delivers the milestone summary and SIRS later than the other documents, the second 7-day clock starts later.
Effective date and history: the 7-day period took effect July 1, 2025 under HB 913. Before that the resale period was 3 days, also excluding weekends and legal holidays. Some websites still say 3 days, and some say "seven business days," which is close but is not the statute's wording.
Illustrative count: a buyer who signs and receives the full document set on a Monday, with no legal holiday in the window, has until the following Wednesday to deliver written notice. Deliver the notice the way your contract's notice clause requires, and keep proof. Ask a Florida real estate attorney if your contract dates are unusual.
| Estoppel and transfer item | Statute (s. 718.116(8) and s. 718.112(2)(k), F.S.) | Current DBPR-adjusted maximum |
|---|---|---|
| Time to issue | Within 10 business days of a written or electronic request; no fee may be charged if late | Same |
| Validity | 30 days if hand-delivered or emailed; 35 days if mailed; a free amended certificate restarts the period if closing has not occurred | Same |
| Preparation and delivery fee, no delinquency | $250 | $299 |
| Expedited delivery within 3 business days | Additional $100 | Additional $119 |
| Unit with a delinquent amount | Additional fee up to $150 | Additional up to $179 |
| Multiple units, same owner, no past due, 25 or fewer units | $750 aggregate | $896 aggregate |
| Transfer or approval fee (only if the association must approve the transfer and its documents provide for a fee) | $150 per applicant; spouses, or parents and dependent children, count as one; no fee on a lease renewal with the same tenant | $184 per applicant |
The statute sets the base amounts and directs DBPR to adjust them for inflation every 5 years; DBPR's published figures control today, with the next estoppel update due by July 1, 2027 and the next transfer-fee update by July 1, 2031 (DBPR estoppel and transfer fees; s. 718.116, F.S.). If a sale does not close, the payor can request a refund of the estoppel fee within 30 days after the scheduled closing date. Order the certificate so its 30-day window covers your closing date; a closing that slips past day 30 needs an amended certificate.
A declaration may include restrictions on the use, occupancy and transfer of units, which is the source of buyer approval rules and rights of first refusal. According to the Florida Condo and HOA Law Blog (July 28, 2026, secondary), an approval right cannot be exercised for any reason or no reason unless the association has a matching obligation to buy or find a buyer at fair market value, and many declarations deem approval granted if the association does not respond in time.
The CR-7 rider makes both items contract contingencies. If approval is required, the contract is contingent on approval by a set number of days before closing (5 days if left blank), and the deposit is refunded if the buyer is not approved. If the association or its members hold a right of first refusal, the contract is contingent on written confirmation that it will not be exercised; if it is exercised, the contract ends and the deposit is refunded. The estoppel certificate must state whether approval is required and given, and whether a right of first refusal exists and has been exercised. Where an association approves leases, it may deny approval if the owner is delinquent in assessments (s. 718.116(4), F.S.).
Three public tools let a buyer, or a buyer's agent, read a building before the 7-day clock starts:
When we research a building for a client, we search the minutes for "special assessment," "loan," "line of credit," "milestone," "Phase 2," "litigation" and "insurance renewal," and we look for any 14-day notice of a board meeting that will consider an assessment.
Southwest Florida condos are a buyer-leaning market with shrinking supply. In September 2026, Lee County condos had a $255,000 median, down 8.9 percent, with 6.6 months of supply, per Florida Realtors. Naples-area condos had a $400,000 median, down 2.4 percent, per NABOR. Every figure below names its publisher and geography, because they differ.
Data updated: November 2026 (sources named, retrieved 4 November 2026). Figures are September 2026 data released in October 2026; Florida Realtors releases October data on November 16, 2026.
| Area | Publisher and geography | Median condo price, Sept 2026 | Change | Active inventory | Months supply | Time to contract or days on market | Sale to list |
|---|---|---|---|---|---|---|---|
| Lee County | Florida Realtors, Lee County townhouses and condos | $255,000 | -8.9% YoY | 3,005 (-14.8%) | 6.6 | 86 days median time to contract | 91.8% of original list |
| Collier County excluding Marco Island | NABOR (Naples Area Board of REALTORS), condominiums | $400,000 | -2.4% YoY | 2,168 condos (-17.9%) | 5.5 (all property types) | 99 days average (all property types) | Not in the release |
| Collier County including Marco Island | Florida Realtors county report (members-only; read from a republished copy) | $432,500 | +4.2% YoY | 2,576 (-15%) | 6.0 | 82 days median time to contract | Not published there |
| Fort Myers and Cape Coral board area | Royal Palm Coast Realtor Association, condos and townhouses | $220,000 | -3.1% from August 2026 | Not stated | 11.1 | 89 days median days on market | Not stated |
| Florida statewide | Florida Realtors, townhouses and condos | $293,500 | -1.8% YoY | 60,367 (-9.0%) | 7.7 | 65 days median time to contract | 93.3% of original list |
Sources: Florida Realtors Lee County Monthly Market Detail for townhouses and condos (a members-only Florida Realtors county report), NABOR September 2026 report (October 23, 2026), RPCRA September 2026 (October 9, 2026), Florida Realtors statewide condo summary (October 16, 2026).
Collier County has two September 2026 condo medians pointing in opposite directions. NABOR reports $400,000, down 2.4 percent, for Collier County excluding Marco Island. Florida Realtors, in its members-only county report, reports $432,500, up 4.2 percent, for the whole county including Marco Island. The likely reason is geography: Marco Island's Gulf-front condos are in one set and not the other, and NABOR's 291 closed condo sales against Florida Realtors' 342 fits that gap. We could not verify the explanation, so we do not publish a single Collier condo median.
Lee County has the same problem on supply. Florida Realtors reports 6.6 months for Lee County condos; the Royal Palm Coast Realtor Association reports 11.1 months for its Fort Myers and Cape Coral board area. They use different geographies and different methods. Florida Realtors divides active listings by the 12-month average of monthly closed sales and treats 5.5 months as balanced. A naive division of Lee's 3,005 listings by September's 343 closings gives 8.8 months, which shows how much the method matters. The RPCRA condo median, $220,000, is also lower than Florida Realtors' Lee figure, $255,000, because the board footprint differs.
Florida Realtors' September 2026 Lee County condo report includes a 13-month series. One month's median can swing with the mix of buildings that closed, so we read the trend, not a single month.
| Month | Median sale price (YoY) | Active inventory | Months supply |
|---|---|---|---|
| Sep 2025 | $280,000 (-6.7%) | 3,525 | 9.7 |
| Dec 2025 | $287,500 (-8.7%) | 4,228 | 11.2 |
| Jan 2026 | $289,950 (-10.8%) | 4,913 | 12.8 |
| Mar 2026 | $290,000 (-1.7%) | 4,419 | 10.8 |
| May 2026 | $300,000 (-3.2%) | 3,829 | 8.9 |
| Jun 2026 | $270,000 (0.0%) | 3,408 | 7.7 |
| Jul 2026 | $260,000 (0.0%) | 3,118 | 6.9 |
| Aug 2026 | $269,000 (-2.2%) | 2,913 | 6.4 |
| Sep 2026 | $255,000 (-8.9%) | 3,005 | 6.6 |
The year-to-date Lee condo median is $280,000, down 3.4 percent, and year-to-date closed sales are 4,421, up 25.3 percent. Supply peaked at 12.8 months in January 2026 and has fallen to 6.6, still above Florida Realtors' 5.5-month balanced benchmark. The median closed at 91.8 percent of original list price, so illustratively a $255,000 sale implies an original list near $277,800 ($255,000 ÷ 0.918). Lee condos are weaker on price than the state (down 8.9 percent against 1.8 percent) and slower to contract (86 days against 65).
The regional view agrees on direction. Florida Gulf Coast University's Regional Economic Research Institute reported on September 8, 2026 that Southwest Florida condominium sales rose 17 percent year over year to 1,320 in the second quarter of 2026, while inflation-adjusted condo median prices fell 8 percent (secondary; real, not nominal, prices).
Entry-level Southwest Florida housing is mostly condos. In Lee County, 202 of 343 condo closings in September 2026, about 59 percent, were under $300,000 (99 under $200,000 and 103 from $200,000 to $299,999, per Florida Realtors). In Collier, NABOR reports that inventory under $300,000 grew 3.5 percent to 555 properties in September 2026, and 470 of those 555 are condominiums, while overall Collier inventory fell 17.3 percent. A Naples buyer with a $300,000 budget is almost certainly shopping condos, in the one price tier where supply is growing. No source we found ties assessment risk to price band, but lower-priced units often sit in older buildings, so the milestone and SIRS paperwork is not optional there.
According to Florida Trend (November 2, 2026), reporting Florida Realtors' 2026 Profile of International Residential Transactions, Canadian buyers purchased about $1.6 billion of Florida residential real estate, a 17 percent decrease, and accounted for 24 percent of international purchases; Mexico was second at $981 million. Total international dollar volume fell to $9.0 billion from $10.4 billion. The survey window is August 2025 to July 2026. Among international buyers who did not purchase, property prices and condo fees tied as the most cited reasons, each at 36 percent (Florida Trend, secondary).
Online interest from Canada is rising in our market. Florida Realtors reported in June 2026 that 71.0 percent of international online listing demand for Cape Coral and 70.9 percent for Naples came from Canada (Florida Realtors). That is search interest, not closed purchases.
No, not per square foot. In Southwest Florida MLS sales we analyzed (mid-rise and high-rise, November 2025 to November 2026), 30-plus-year buildings sold for more per square foot, but sat longer and more often closed over 5 percent under last list price: Lee 56.8 vs 46.7 percent, Collier 57.2 vs 52.3, Naples 62.2 vs 51.1.
Data updated: November 2026. Southwest Florida MLS closed sales 5 November 2025 to 4 November 2026, pulled 4 November 2026.
Every building in this set is a mid-rise (4 to 7 stories) or high-rise (8 or more stories), so every one is subject to Florida's milestone inspection and SIRS laws. The split is by year built: 1996 or earlier, which is 30 years or older in 2026, against 1997 or later.
| County and building age | Sales | Median sold price | Median price per sq ft | Median days on market | Median sold vs last list | Sold at or above list | Sold more than 5% under list |
|---|---|---|---|---|---|---|---|
| Collier, built 1996 or earlier | 820 | $900,000 | $638 | 91 | 94.2% | 12.2% | 57.2% |
| Collier, built 1997 or later | 579 | $1,085,000 | $557 | 86 | 94.8% | 14.7% | 52.3% |
| Lee, built 1996 or earlier | 428 | $385,000 | $392 | 94 | 94.5% | 10.0% | 56.8% |
| Lee, built 1997 or later | 658 | $404,999.50 | $270 | 85 | 95.6% | 18.2% | 46.7% |
By area, with the same criteria:
| Area | Building age | Sales | Median sold price | Median price per sq ft | Median days on market | Median sold vs list | At or above list | More than 5% under list |
|---|---|---|---|---|---|---|---|---|
| Naples | 1996 or earlier | 526 | $1,132,500 | $675 | 94.5 | 93.4% | 12.2% | 62.2% |
| Naples | 1997 or later | 511 | $975,000 | $547 | 86 | 94.9% | 16.0% | 51.1% |
| Marco Island | 1996 or earlier | 294 | $690,000 | $592 | 85 | 95.2% | 12.2% | 48.3% |
| Marco Island | 1997 or later | 68 | $1,200,000 | $612 | 84.5 | 93.8% | 4.4% | 61.8% |
| Bonita Springs | 1996 or earlier | 91 | $507,000 | $526 | 100 | 94.7% | 13.2% | 54.9% |
| Bonita Springs | 1997 or later | 177 | $1,550,000 | $516 | 88 | 96.3% | 36.2% | 41.8% |
| Fort Myers Beach | 1996 or earlier | 150 | $421,000 | $476 | 94 | 94.3% | 6.7% | 59.3% |
| Fort Myers Beach | 1997 or later | 55 | $555,000 | $472 | 83 | 96.2% | 14.5% | 45.5% |
| Fort Myers area | 1996 or earlier | 129 | $220,000 | $187 | 91 | 94.5% | 13.2% | 53.5% |
| Fort Myers area | 1997 or later | 290 | $278,000 | $208 | 85 | 95.4% | 12.1% | 46.6% |
| Cape Coral | 1996 or earlier | 20 | $175,000 | $164 | 68.5 | 94.1% | 10.0% | 60.0% |
| Cape Coral | 1997 or later | 71 | $347,500 | $250 | 87 | 94.3% | 9.9% | 57.7% |
| Estero | 1997 or later | 64 | $369,450 | $269 | 77 | 95.3% | 9.4% | 48.4% |
| Sanibel and Captiva | 1996 or earlier | 38 | $795,000 | $716 | 110 | 94.4% | 5.3% | 60.5% |
Estero had no mid-rise or high-rise sales built in 1996 or earlier in the set. Sanibel and Captiva had one newer sale, not shown.
We tracked every closed mid-rise and high-rise condominium sale in the Southwest Florida MLS (Matrix) for one year, pulled on 4 November 2026, with a closed date from 5 November 2025 to 4 November 2026 and a building design of "Mid Rise (4-7)" or "High Rise (8+)." Collier means every MLS map area for Naples plus Marco Island; Lee means every MLS map area across Lee County, including Sanibel, Fort Myers Beach, Bonita Springs, Estero, Fort Myers and Cape Coral. The buckets reconcile exactly: Collier 820 plus 579 equals the 1,399 sales an all-ages search returned, and Lee 428 plus 658 equals 1,086. Every row is unique by MLS number, and no row lacked a year built.
The ratio is sold price divided by the last list price on the closed listing, not the original list price, so it understates total price cuts and will not match Florida Realtors' "percent of original list price" figures earlier on this page. Days-on-market medians exclude listings with no days-on-market value (793 of 820 older and 522 of 579 newer Collier sales had one; 422 of 428 and 618 of 658 in Lee). The window is one year of closed sales.
This is our reading of the sales we tracked, not a finding the data proves. Age did not lower price per square foot in either county: older buildings sold for more per square foot (Collier $638 against $557; Lee $392 against $270), and we read that as location. The older mid-rises and high-rises are largely the Gulf-front and bay-front towers in places like Park Shore, Vanderbilt Beach and Pelican Bay in Naples, Fort Myers Beach, Sanibel and Bonita Beach, and that location premium outweighs age.
Age did show up in negotiation and time, in the same direction in both counties. Older buildings sat longer (Collier 91 against 86 days; Lee 94 against 85), sold at a lower median share of last list price (Collier 94.2 against 94.8 percent; Lee 94.5 against 95.6), sold at or above list less often (Collier 12.2 against 14.7 percent; Lee 10.0 against 18.2) and closed more than 5 percent under list more often. Naples showed the sharpest split. One caution: new-construction presales, often recorded at list price, can lift the newer bucket's at-or-above-list share, most visibly in Bonita Springs at 36.2 percent.
For a buyer, that suggests room to negotiate in an older tower, which is exactly where the milestone report, SIRS and assessment history deserve the closest read. For a seller, it suggests pricing an older building realistically at list and having the SIRS, milestone summary and minutes ready, so a buyer's 7-day review does not turn into a renegotiation. This is a correlation over one year; it does not show that Florida's condo laws caused the gap.
In Lee County, a condo costs less to buy but sells more slowly than a house. In September 2026 the condo median was $255,000 against $375,500 for single-family homes, with 6.6 months of supply against 5.2 and 86 days to contract against 58, per Florida Realtors. Condos also carry association, assessment and lending risks a house does not.
Data updated: November 2026 (sources named, retrieved 4 November 2026).
| Factor | Lee County condo (townhouses and condos) | Lee County single-family home |
|---|---|---|
| Median sale price, Sept 2026 | $255,000 (-8.9% YoY) | $375,500 (+0.1% YoY) |
| Closed sales, Sept 2026 | 343 | 1,116 |
| Active inventory | 3,005 (-14.8%) | 6,517 (-13.7%) |
| Months supply | 6.6 | 5.2 |
| Median time to contract | 86 days | 58 days |
| Special assessments | Possible for structure, roof, SIRS catch-up and storm deductibles; shared by declaration percentage | None from a condo association; HOA rules vary |
| Insurance split | Master policy through dues plus HO-6 (Lee average $1,494 including wind, OIR) | Homeowners policy (Lee average $3,576 including wind, OIR) |
| Lending | Building must pass Fannie Mae or Freddie Mac Full Review, FHA or VA approval | Property and borrower review only |
| Maintenance | Association maintains structure and common elements; owner pays through dues and reserves | Owner pays directly, on the owner's schedule |
| Rules | Declaration, bylaws, rules; possible approval, rental and pet limits | Deed restrictions or HOA rules, if any |
Sources: Florida Realtors Lee County Monthly Market Detail for single-family homes and townhouses and condos, September 2026; OIR July 1, 2026 report.
A Florida condo still fits a buyer who wants the association to handle the roof, the structure and the grounds; a seasonal resident who leaves for months at a time; a buyer in the under-$300,000 band where houses are scarce; and a buyer who wants a Gulf-front or high-rise location that single-family homes rarely offer. It fits less well for a buyer who cannot absorb a five-figure assessment, a buyer who needs FHA financing in a seasonal building that fails the owner-occupancy test, or an investor who needs short-term rentals in a building whose declaration restricts them.
When a client is undecided, we price both: the condo's purchase price plus 10 years of dues, reserves and a realistic assessment allowance, against the house's price plus insurance and maintenance. The answer changes building by building.
Our checklist has 20 items, each tied to a Florida statute or lender rule: the eight resale documents, the milestone report and building status, the full SIRS and current budget, 12 months of minutes, the estoppel, the insurance declarations, lender project review, and red flags that change our advice. If you want us to run it on a specific building, call Jesse McGreevy at (239) 898-6072.
Data updated: November 2026 (sources named, retrieved 4 November 2026).
This is the list we work through for clients before an offer on a Naples, Bonita Springs, Estero, Fort Myers or Marco Island condo. Much of it can be done before you sign, because 25-unit associations now post records online. McGreevy and Comisar, Top 1% Real Estate Agents Nationally Since 2008, built it from the statutes and lender rules on this page, not from a template.
The eight statutory resale documents and the governance form; the full milestone report and Phase 2 materials; the full SIRS and the DBPR filing; 12 to 24 months of minutes and agendas; the current and proposed budgets; the master insurance declarations, appraisal and flood policy; the estoppel certificate; and, if your lender asks, the most recent condo questionnaire (Fannie Mae Form 1076 or Freddie Mac Form 476).
Which SIRS items fall due in the next 5 and 10 years, and at what cost? What funding plan does the budget follow, baseline or something stronger? Is any special assessment, loan or line of credit planned or approved, and what is this unit's share? Has the building had a Phase 2 finding? Has a lender questionnaire been completed in the last 90 days? Is the association in any litigation?
Will this project pass Full Review today? Has any structural or mechanical inspection from the past 3 years shown critical repairs? Does the budget meet 10 percent reserves now and 15 percent for an application dated on or after January 4, 2027? Does the master deductible fit the $50,000 per-unit and 5 percent caps? If FHA, is the project approved or eligible for Single-Unit Approval?
What will an HO-6 cost with Coverage A sized to what s. 718.111(11)(f), F.S., leaves with the owner? What loss assessment limit do you recommend, and what does it pay toward a master deductible? What hurricane deductible applies, and is wind included? What does flood coverage for contents and improvements cost here?
You can sell a Florida condo with a special assessment pending, approved or in installments. Disclose every assessment levied or discussed at a board meeting in the 12 months before the contract, then choose: pay it off, credit the buyer, or price it in. Undisclosed assessments that existed at contract are the seller's to pay under the rider. To price your own unit against a pending assessment, call Jesse McGreevy at (239) 898-6072.
Data updated: November 2026 (sources named, retrieved 4 November 2026).
Sellers in older Lee and Collier buildings ask us this more than any other question in 2026. The law gives buyers 7 days after receiving the SIRS and milestone summary to cancel, so an assessment the buyer discovers in the documents tends to surface inside that window. Disclosing early protects the deal.
Three layers apply. The contract: the CR-7 rider asks the seller to list special or additional assessments levied or discussed at a board meeting in the 12 months before the effective date, with purpose and amount, and by default puts any assessment levied before closing on the seller unless the contract assigns it to the buyer. The case law: Johnson v. Davis requires a seller who knows of facts materially affecting value that are not readily observable to disclose them, and the Florida Realtors/Florida Bar "AS IS" contract repeats that standard. The statute: the estoppel certificate must itemize special assessments owed and scheduled, so an undisclosed assessment will appear before closing anyway (s. 718.116(8), F.S.). A seller who prepays an assessment and sells before the work is done does not necessarily receive any later surplus; under s. 718.116(10), surplus becomes common surplus that the board may return or credit.
In practice, sellers and buyers settle a pending assessment in one of several common ways (market practice, not law):
Our pricing logic: a buyer compares your unit with units in buildings that do not carry the same bill, so the assessment usually comes off the price roughly dollar for dollar, plus a risk discount when the amount is proposed but not set. We test that against closed sales in the same building after the assessment was announced. McGreevy and Comisar, Top 1% Real Estate Agents Nationally Since 2008, will prepare that comparison for your building.
Before you list, estimate your proceeds with the assessment paid and with it credited. Our seller net sheet does the arithmetic, and our guide to seller closing costs in Florida lists the estoppel fee, title and transfer costs. For a current value on your unit, request a home valuation. Order the estoppel certificate early, get written confirmation of whether the association lets a buyer assume installments, and put the assessment's purpose, amount and schedule in the rider so there is no dispute later.
Southwest Florida condo rules change at the city line. Collier County, Naples and Marco Island apply milestone inspections at 25 years within three miles of salt water; Cape Coral uses 30 years; Lee County, Fort Myers and Bonita Springs had not published a local rule on their sites as of November 2026, so ask the building department.
Data updated: November 2026 (sources named, retrieved 4 November 2026).
The statute leaves the 25-year decision to each local enforcement agency, and Southwest Florida has many of them. In Collier, the county, the City of Naples and the City of Marco Island each have their own building official. In Lee, unincorporated Lee County, Cape Coral, Fort Myers, Bonita Springs, Sanibel and the Town of Fort Myers Beach each run their own building departments. For county-level context, see our Lee County and Collier County guides.
The City of Naples applies milestone inspections at 25 years within three miles of the coastline and 30 years beyond, charges an initial $300 milestone fee on its public portal, and publishes "Milestone Buildings" lists by due year from 2024 through 2033 (City of Naples milestone lists). Unincorporated Naples addresses fall under Collier County's program, with the Milestone Map and status codes described above. NABOR reports a September 2026 median condo price of $400,000 for Collier County excluding Marco Island, down 2.4 percent. If you are weighing a newer tower or a golf-club condominium instead, our guides to Naples new construction and Naples golf communities cover those two choices in detail.
Naples condo buildings vary more than any market we work in. For building-by-building detail, read our guides to how Park Shore Naples condo buildings compare, Pelican Bay condo buildings and lifestyle, and what Naples condo fees typically include, or start with our Naples page. When you are ready to shortlist buildings, you can see Naples condos for sale on Domain Realty Group.
The City of Marco Island applies 25 years within three miles of salt water and 30 years beyond. Its page explains how to find a building's record: on the city's permitting portal, search with the record type set to "Permit," choose the permit type "Milestone Phase 1" and add the street address (City of Marco Island). Marco Island's page still lists the exemption as one- to three-family dwellings; the statute now exempts four-family dwellings of three or fewer habitable stories too, and the statute controls. Marco Island sales are excluded from NABOR's Collier figures and included in Florida Realtors' county figures, which is part of why the two Collier medians differ. More on the island at our Marco Island page.
The City of Bonita Springs and the Village of Estero are in Lee County. A milestone rule for Bonita Springs was not published on its site as of November 2026, and we did not find one for Estero; ask the building department, and ask the association for the department's notice or completion letter. Bonita Springs permits can be searched on the city's EnerGov citizen access portal. For the community-level fees that sit beside a condo budget in Estero, see Estero HOA and CDD fees. Just south of Bonita Beach Road, the Gulf-front condominiums of Barefoot Beach sit in Collier County under Collier's 25-year coastal milestone rule, even with a Bonita Springs mailing address.
Estero's condo stock is newer than the coast's: the Southwest Florida MLS sales we analyzed show no Estero mid-rise or high-rise sales built in 1996 or earlier over the past year. If you are focused on this corridor, see our pages on Bonita Springs, Estero, and the best real estate agents in Estero.
Cape Coral applies the 30-year rule and says no city building is within three miles of the coastline; it mails certified notice about 180 days before the due date. Fort Myers and unincorporated Lee County had not published a milestone rule on their sites as of November 2026; ask the building department. Florida Realtors reports a Lee County condo median of $255,000 in September 2026; the Royal Palm Coast Realtor Association reports $220,000 for its Fort Myers and Cape Coral board area, a different geography. See our Fort Myers page for neighborhoods.
Hurricane Ian in September 2022 remains the defining condo event for Lee County's barrier islands; the Fort Myers News-Press reported in January 2023 that Ian damaged 97 percent of the structures on Fort Myers Beach (secondary). In 2024, Florida's Department of Environmental Protection found that Helene brought 4 to 8 feet of storm surge to Southwest Florida and caused most of the surge flooding in Lee County, including Fort Myers Beach, Sanibel and Captiva, and that Collier beaches in Naples, Park Shore and Marco Island lost 20 to 30 feet; Milton made landfall October 9, 2024 (Florida DEP, March 2025).
Recovery is still under way. Business Observer reported on July 29, 2026 that Sanibel's Gulf Beach Condominium is being rebuilt as a new 14-unit community at an estimated $6.5 million, with completion expected in October 2027, and WINK News reported on December 15, 2025 that owners at Seven Lakes in Fort Myers had been out of their homes for more than three years after Ian (both secondary). NABOR notes the Naples area has had no tropical storm activity for the second year in a row. For a barrier-island condo, add the association's open claims, its post-storm assessments and its flood coverage to every checklist item above. Milestone rules for the Town of Fort Myers Beach and the City of Sanibel were not confirmed on their sites; ask each building department.
These are the questions Florida condo buyers search most, answered with the current rule and its source. Each answer stands on its own. For anything you must act on, confirm the rule for your building with a Florida real estate attorney, your lender and your insurance agent, because declarations and lender reviews differ by building.
Data updated: November 2026 (sources named, retrieved 4 November 2026).
It can be, if the building is sound and funded. Prices are softer: Lee County's September 2026 condo median was $255,000, down 8.9 percent, with 6.6 months of supply, per Florida Realtors. That favors buyers. The risk sits in older buildings with unfunded SIRS items or pending milestone repairs. Buy the balance sheet, not just the unit, and read the SIRS before you commit.
Not "fully funded" in the reserve-industry sense. For budgets adopted on or after December 31, 2024, an owner-controlled association that must have a SIRS cannot waive or reduce reserves for SIRS items (s. 718.112(2)(f), F.S.). The study must include at least a baseline plan that keeps the reserve balance above zero. Since August 3, 2026, Fannie Mae will not accept baseline-funded studies for its reserve test.
Residential condominium and cooperative buildings of three or more habitable stories need a structural inspection by a licensed architect or engineer by December 31 of the year they turn 30, then every 10 years (s. 553.899, F.S.). A local building department may require it at 25 years near salt water. Phase 2 testing follows only if Phase 1 finds substantial structural deterioration.
HB 913, effective July 1, 2025, is the current law. It moved the SIRS deadline to December 31, 2025, with an outside date of December 31, 2026 for associations pairing it with a milestone inspection; raised the reserve threshold to $25,000, now $25,675 for 2026; and allowed loans, lines of credit and a two-budget pause after a milestone inspection. No substantive condo law passed in 2026.
Yes, if its declaration gives it an approval right, and the CR-7 rider makes approval a contract contingency with your deposit refunded if you are denied. According to the Florida Condo and HOA Law Blog (July 28, 2026), an association cannot deny for any reason or no reason unless it must buy or find a buyer at fair market value. The estoppel certificate states whether approval is required and given.
Ask your CPA; the sources behind this page do not answer the tax question. What is known: Florida law defines a special assessment as any assessment other than the annual budget (s. 718.103, F.S.), and the association must state its specific purpose in a written notice (s. 718.116(10), F.S.). That purpose notice, and whether the unit is a residence or a rental, is what your tax adviser will ask to see.
Homestead is a property tax question administered by each county property appraiser, and the sources behind this page do not cover it. Ask the Lee or Collier County property appraiser's office and your tax adviser before you rely on any homestead savings in your budget. The condo statutes on this page govern the association, the building and the sale, not the property tax exemption.
Only assessments caused by a covered loss. Section 627.714, F.S., requires at least $2,000 of loss assessment coverage per direct loss, with a deductible of no more than $250, and it responds to things like your share of a hurricane deductible on the master policy. It does not pay assessments to fund SIRS reserves, milestone repairs or deferred maintenance. Ask your insurance agent for a higher limit.
A condo in a project that fails Fannie Mae or Freddie Mac standards, so conventional agency loans are unavailable. Common causes are insufficient master insurance, critical repairs or failed mandatory inspections, unfunded repairs over $10,000 per unit due within 12 months, litigation, condotel operation and high delinquencies. The problem belongs to the building, not your credit. Portfolio and non-QM lenders may lend with larger down payments.
On a resale, 7 days, excluding Saturdays, Sundays and legal holidays, after you sign and receive the required association documents, by written notice (s. 718.503(2), F.S.). The right cannot be waived and ends at closing. A second 7-day clock runs from receipt of the milestone summary and SIRS. Developer sales carry 15 days. The resale period was 3 days before July 1, 2025.
The statute sets $250 for a current account, plus $100 for delivery within 3 business days and up to $150 more if the account is delinquent; DBPR's inflation-adjusted maximums are $299, $119 and $179 (s. 718.116(8), F.S.). The association must issue within 10 business days or charge nothing. The certificate is valid 30 days if emailed or hand-delivered, 35 if mailed.
That depends on the declaration, which can restrict use, occupancy and transfer, including minimum lease terms and approvals. If the association approves leases, it may deny approval when the owner is behind on assessments (s. 718.116(4), F.S.), and any approval fee is capped at $184 per applicant by DBPR's current figure, with none on a renewal with the same tenant. Read the rules before you offer.
Florida's Office of Insurance Regulation reports average HO-6 premiums including wind of $1,494 in Lee County and $2,271 in Collier County, with data as of March 31, 2026; Miami-Dade's average was $2,801. Those are averages, not quotes. Your share of the association's master policy is paid through monthly dues and is often the larger cost. Get a written quote before closing.
Modestly, and unevenly. Lee County's condo median was $255,000 in September 2026, down 8.9 percent year over year and down 3.4 percent year to date, per Florida Realtors. NABOR reports Naples-area condos at $400,000, down 2.4 percent, while Florida Realtors reports all of Collier, including Marco Island, at $432,500, up 4.2 percent. Supply is falling in both counties.
No Florida statute requires an owner to buy an HO-6 policy. Your declaration may require one, and lenders do: under Fannie Mae's LL-2026-03, a unit owner policy is required when the master policy excludes the interior or carries a per-unit deductible, with an HO-6 deductible no higher than the greater of 5 percent or $2,500. If you buy one, s. 627.714, F.S., sets its minimum loss assessment coverage.
Yes, if the building qualifies. FHA needs a HUD-approved project or a Single-Unit Approval, which requires at least 5 units, 50 percent owner occupancy, limits on FHA concentration and 10 percent reserves under HUD Handbook 4000.1. VA needs the whole project on the VA Condo Report and has no single-unit route. Ask your lender to check the building before you offer.
Tell us the building and we will tell you what its milestone status, SIRS and budget say before you write an offer. Call Jesse McGreevy at (239) 898-6072 or Marc Comisar at (239) 287-5873; both work Lee and Collier County condos every week.
McGreevy and Comisar is the flagship brand of Domain Realty Group, the #1 real estate team in Southwest Florida since 2012, with $2.5 billion+ in cumulative production and 4,000+ transactions across Lee, Collier and Charlotte County. Jesse McGreevy and Marc Comisar have personally sold over $900 million in Southwest Florida real estate, hold the Top 1% Real Estate Agents Nationally Since 2008 distinction, and have been recognized with the Gulfshore Life Five Star award for 21 consecutive years. Jesse co-founded the brokerage in 2015 and has been selling in this market since October 2004. Brokered by Domain Realty.
Jesse McGreevy direct: (239) 898-6072 Marc Comisar direct: (239) 287-5873 Email: [email protected] Office: 24031 S Tamiami Trl #101, Bonita Springs, FL 34134. Offices in Naples, Bonita Springs, Estero and Fort Myers.
Brokered by Domain Realty. Jesse McGreevy and Marc Comisar are licensed Florida real estate professionals, licensed and regulated by the Florida Real Estate Commission (FREC) under Chapter 475, Florida Statutes. Licence numbers are available on request and are searchable on the Florida Department of Business and Professional Regulation licensee portal.
Read about McGreevy and Comisar, send us a building name through our contact page, or browse our Lee County and Collier County guides. This page is general information, not legal, tax, insurance or lending advice.
Every source below was opened and read on 4 November 2026, or for the Southwest Florida MLS benchmark, pulled that day. Primary sources (statutes, session laws, agencies, lenders, regulators and Realtor associations) come first; secondary sources are labelled. Statutes are cited from the 2026 Florida Statutes as displayed that day.
Updated November 2026. This page is general information about buying and selling Florida condominiums, not legal, tax, insurance or lending advice. Florida condominium law and lender rules change; confirm the current rule for your building with a Florida real estate attorney, your lender and your insurance agent.